NAICS Classification

NAICS Classification

North American Industry Classification System (NAICS) is a classification system for the business establishment for collection, analysis and publishing of the statistical data related to United States, Canada and Mexico. NAICS majorly used for contracting and administrative purposes.

Importance of NAICS:

• For the identification of customers by industry codes

• Categorizing businesses with others having similar methods of products, as NAICS is production oriented rather than products.

• Easier identification of Government contracts through NAICS description

• Recognition of the structural and technological advancement in the economy.

• Companies understand market in better way for future marketing campaigns

• For identification of Public and Private sector competitors.

Importance of NAICS:

Classification Level Digit Example
Sector Two 42 – Wholesale Trade
Subsector Three 423 – Merchant Wholesalers, Durable goods
Industry Group Four 4232 – Furniture and Home Furnishing Merchant Wholesaler
International Industry Five 42321 – Furniture Merchant Wholesaler - International
National Industry Six 423210 - Furniture Merchant Wholesaler - Nationalchant Wholesaler - International

Example: Johnson & Johnson

Classification Level Digit Example
Sector 32 Manufacturing
Subsector 325 Chemical Manufacturing
Industry Group 3254 Pharmaceutical and Medicine Manufacturing
Industry 32541 Pharmaceutical and Medicine Manufacturing
US Industry 325412 Pharmaceutical Preparation Manufacturing

Why Sanvill

Techno-savvy: Up-to-mark established technology gives advantage to Sanvill to provide accurate work within lesser time frame

Understanding: Well experienced team of professionals of various sectors, provide deepening knowledge of industries for better classification.